The Weekly Wrap: The Buck Doesn’t Stop with Jerome Powell
\n\nHappy Jobs Day to all who celebrate. This week we learned that GDP is stronger than we thought, more people want to work in America, Powell’s friends think he was vindicated because an inspector general didn’t declare him a crook, and the liberals are still worried about women getting so many jobs.
\n\nRemember back when Jerome Powell insisted that the Justice Department’s investigation into the Fed’s headquarters renovation was a pretext for trying to influence monetary policy? This was treated as obviously correct by the legacy financial press even though no one could explain how it was supposed to work. Why would Donald Trump or anyone else think that subpoenaing the Fed over construction would cause the Fed to alter the path of interest rates?
\n\nThe inspector general of the Fed this week released its report on the renovation. As it turns out, the Fed was doing a lot of things wrong. Perhaps most importantly, the project was inadequately supervised in such a way as to allow the top Fed officials—including Powell—to avoid accountability.
\n\nThe financial press bizarrely treated this as a vindication of Powell. There was nothing criminal! Powell…
Original source: https://www.breitbart.com/economy/
